Domestic Silico Manganese prices remains unchanged, with low production preventing the market from softening.

Silico Manganese prices remains unmoved in the domestic market. Currently prices of Silico Manganese are balanced at INR 52500-53000 /MT (Ex-Raipur), INR 56000 / MT (Ex-Vizag) and INR 54000 /MT (Ex-Durgapur). Prakash Industries is currently offering at INR 51000 /MT (Ex-Champa, Chhattisgarh). Production of Silico Manganese remains low in the domestic market, due to weaker demand from Semi Finished Steel Industries.

TATA’s branded Silico Manganese 60-15 Silicomag is currently not being offered in the market but Silico Manganese 50-12 is being offered at INR 43,000 /MT FOR West Bengal.

Export Market

In the export market Silico Manganese 60-14 is being offered at USD 880-890 /MT FOB East-coast India, and Silico Manganese 65-16 is being offered at USD 1000-1020/MT FOB East-coast India. Market participants are of the view that there is possibility of price rise in the export market, owing to a successful Ferro Alloy conference held in Barcelona last week.

On the future trend most traders reported of a balanced market, as buying interest of Silico Manganese remains low but constant in the domestic market.

Exchange Rate: USD 1 = INR 62.45